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Bikaji Foods International Ltd reports topline growth of 15.65% and PAT growth of 195.39% for Q3FY23 (Y-o-Y)
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Saturday, 04 February, 2023, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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Bikaji Foods International Limited (Bikaji), India’s third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and the second fastest growing company in the Indian organised snacks market announces its financial results for the third quarter and nine months ended December 31, 2022.
Financial Highlights
Q3FY23 v/s Q3FY22:
- Revenue from operation stood at Rs 50,767.76 lakh in Q3 FY23 as against Rs 43,897.60 lakh of Q3 FY22 with a growth of 15.7%
- The company’s EBITDA margin stood at 10.4% as against 5.6% of previous year
- Profit Before Tax (PBT) stood at Rs 4,161.86 lakh for Q3 FY23, PBT margin increased to 8.2% as against 3.6% of Q3FY22
- Profit After Tax (PAT) stood at Rs 3,169.39 lakh for Q3 FY23. The PAT margin increased to 6.2% as against 2.4% of Q3 FY22
- Earnings per share (EPS) (Diluted) for the quarter ended Q3 FY23 stood at Rs 1.32 lakh.
9M FY23 v/s 9M FY22:
- Revenues from operations for the nine months ended December 31, 2022 stood at Rs 150,380.81 lakh as compared to Rs 121,070.81 lakh in 9M FY22 with a growth of 24.2%
- The Earnings before Interest, Tax, Depreciation and Amortization (core EBITDA) stands Rs 15,099.85 lakh in 9M FY23, as against Rs 9,636.21 lakh in 9M FY22. EBITDA margin stood at 10.0%
- Profit Before Tax (PBT) stood at Rs. 11,923.94 lakh for 9M FY23 as compared to Rs 7,155.50 lakh in 9M FY22. PBT margin stood at 7.9%
- Profit After Tax (PAT) reported stood Rs 8,831.75 lakh in 9M FY23 as against Rs 5,165.87 lakh in 9M FY22. The company’s PAT margin stood at 5.9%
- Earnings per share (EPS) (Diluted) for the nine months stood at Rs 3.64 lakh.
Deepak Agarwal, managing director, Bikaji Foods International Limited, said, “Taking the lead from the previous quarter, we have seen an increase in our revenue as compared to the last year with our topline delivering 24.2% growth this year. In the current quarter, we have seen a downward trend in our key input materials leading to improved profitability. Our EBITDA margin has increased to 10.0% in YTD Dec-22 as compared to 8.0% in YTD Dec-21 which was result of softening of input prices.
We continue to focus on operational efficiencies which also reflects in a better profit margin this quarter. We hope that the consumer demand will get better in the next quarter and we rally on in our growth journey while maintaining healthy margins. Our focus will be on strengthening our distribution network to achieve a deeper distribution model; and we will continue to efficiently execute our RTM strategy for distribution expansion.”
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